By Kiku Steinfeld
Chicago, Aug. 18 – HSBC USA Inc. priced $3.46 million of 0% dual directional contingent buffered enhanced notes due Aug. 25, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus the index gain, subject to a maximum return of 10%.
If the index falls by up to 18.3%, the payout will be par plus the absolute value of the index return.
If the index falls by more than 18.3%, investors will lose 1% for each 1% index decline from the initial level.
HSBC Securities (USA) Inc. is the agent. JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the placement agents.
| Issuer: | HSBC USA Inc.
|
| Issue: | Dual directional contingent buffered enhanced notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $3.46 million
|
| Maturity: | Aug. 25, 2021
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus any index gain, capped at 10%; if index falls by up to 18.3%, par plus the absolute value of the index return; if index falls by more than 18.3%, 1% loss for each 1% decline from the initial level
|
| Initial value: | 3,351.28
|
| Knock-in buffer level: | 81.7% of initial level
|
| Final value: | Average of the closing levels on the five trading days ending Aug. 20, 2021
|
| Pricing date: | Aug. 7
|
| Settlement date: | Aug. 12
|
| Agent: | HSBC Securities (USA) Inc.
|
| Placement agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 40438CTG6
|
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